L&T Construction gets Rs744 crore contracts in first quarter

Larsen & Toubro Construction received contracts worth Rs744 crore during the first quarter, from NMDC, Jindal Power and NTPC

New Delhi: Engineering company Larsen & Toubro Construction on Monday said it received contracts worth Rs744 crore during the first quarter of current financial year (2012-13), reports PTI.

L&T Construction has received new orders valued Rs744 crore during the first quarter of 2012-2013, a statement said, adding that they include orders for power transmission and distribution.

The Power Transmission & Distribution secured new orders worth Rs479 crore from key customers which include orders for electrical, instrumentation and automation works from National Mineral Development Corporation (NMDC), Jindal Power Ltd and NTPC.

An order has been secured from Power Grid Corp for the construction of overhead transmission lines from Barh in Bihar to Gorakhpur in Uttar Pradesh.

In the Water & Solar Business, L&T Construction has secured orders worth Rs265 crore from various customers for the construction of a Solar thermal plant at Rajasthan and also an EPC contract for the construction of a pumping station and allied works at Botad Branch Canal from Paliyad to Goma in Bhavnagar district, Gujarat.

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Dr Reddy's launches much-delayed acidity drug in US

The company launched its over-the-counter lansoprazole delayed-release capsules in the US market following ANDA approval by the USFDA

New Delhi: Pharmaceutical company Dr Reddy's Laboratories on Monday said it has launched its generic version of lansoprazole delayed-release capsules used for treating acidity and heartburns in the US market, reports PTI.

The company has launched over-the-counter lansoprazole delayed-release capsules in the US market on 18th May following its abbreviated new drug application (ANDA) approval by the US Food & Drug Administration (USFDA), Dr Reddy's Laboratories said in a statement.

Lansoprazole capsule of the company is available in the strength 15 mg in packs of 14, 28 and 42, Dr Reddy's said.

"The product is the bio equivalent version of Novartis Consumer Health's Prevacid 24 HR capsule, which received Rx-to-OTC switch approval with 3 year exclusivity from the FDA on 18 March 2009," it added.

The process of transferring FDA-approved prescription medications to nonprescription, over-the-counter (OTC) status is called as Rx-to-OTC switch.

Citing data of SymphonyIRI InfoScan Reviews, the company said the capsule had sales of approximately $115 million for the twelve months ending March 2012.

Shares of Dr Reddy's Laboratories were today trading at Rs 1,656.40 in the afternoon trade on BSE, down 0.25% from its previous close.

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White Paper for setting of Lokpal to deal with black money

The 97-page document pitched for fast-track courts to expeditiously deal with financial offences and deterrent punishment for offenders and also suggested tax incentives for encouraging use of debit and credit cards as these leave audit trails

New Delhi: The Indian government on Monday tabled the much-awaited White Paper on black money in Parliament which did not disclose any name but made a strong case for setting up Lokpal and Lokayuktas to deal with the menace, reports PTI.

The White Paper, which was tabled by Finance Minister Pranab Mukherjee in the Lok Sabha, also did not provide government's estimate of black money, within and outside the country, though it quoted various estimates of other agencies on the issue.

The 97-page document, however, pitched for fast-track courts to expeditiously deal with financial offences and deterrent punishment for offenders. It has also suggested tax incentives for encouraging use of debit and credit cards as these leave audit trails.

On the possibility of any tax immunity scheme, especially gold deposit scheme, to deal with black money, it said, "The issue of complete tax immunity needs to be examined in the light of other policy objectives."

The document seeks to dispel the impression that government was not doing enough to deal with black money and talks about various policy options and strategies it has been pursuing to address the issue of corruption in public life.

Referring to the issue of institutions like Lokpal and Lokayuktas, the Paper said, "(they) need to be put in place at the earliest, in the Centre and the states respectively, to expedite investigations into cases of corruption and bring the guilty to justice."

The government has not been able to push through the Lokpal Bill in Rajya Sabha, despite pressure from the civil society. The Bill was approved by the Lok Sabha.

 

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